Verizon Remains Weak On The Charts, Know This Trade Level

Verizon Communications Inc (NYSE:VZ) has been falling lower over the past week. Many traders and investors are now expecting Verizon to get into the acquisition game since AT&T Inc (NYSE:T) and Time Warner Inc (NYSE:TWX) received approval to merge. Either way, the charts are telling me the stock should continue to trade lower in the near term. The $45.00 area is where there should be major chart support when tested. This important support area is where the stock was defended multiple times in 2017 and will likely be defended again.